MI’s Mexico Foreign Press Chatter, August 1, 2025
Up until Thursday morning, it had been a decidedly rough few weeks for President Sheinbaum. A ‘bummer summer’, in the words of Bloomberg’s JP Spinetto, ‘grappling with everything from a tense relationship with Donald Trump’s White House to emerging scandals within the ruling Morena party’. But then her Thursday call with President Trump came, with a partial win that at least provided breathing room. ‘It was a very good agreement, and it puts our country in a very good situation’, the NYT quoted the Mexican president. What’s more, the FT quoted American officials describing Canada as ‘less constructive than Mexico’, explaining why the northern neighbor did not get the same 90-day reprieve, and underscoring, at least for now, the effectiveness of Sheinbaum’s approach.
Still, challenges remain. A piece published in The Guardian delves into how the uncertainty is effectively ‘freezing investment plans’, not just because of the tariff threats, but also due to the recent judicial reform (illustrating the point, the WSJ reported on Thursday that logistics giant DSV ‘is pulling back on investments along the U.S.-Mexico border because of a slowdown in trade caused by tariffs’; Nissan on Wednesday also announced a plant closure). And as both The Guardian and the LA Times reported, while trade negotiations continue, Mr. Trump continues to drive a hard line on immigration, including heavy military presence along the border.
Focusing on domestic issues, the FT discusses the controversy surrounding recent luxury travel by prominent Morena leaders, leaving President Sheinbaum with ‘awkward questions’ on corruption and privilege. For its part, the NYT covered the ongoing dispute among Mexico City politicians stemming from the removal of statues depicting Fidel Castro and Che Guevara, and in more serious matters, the AP reported on the efforts by scientists in Jalisco to ‘help find the staggering number of people who have gone missing’ due to cartel-driven violence. More cheerfully, Bloomberg highlighted the Mexican economy had a better-than-expected performance in the second quarter.
Shifting gears, two long reads caught our attention. In a financial caper worthy of Hollywood, the Wall Street Journal unraveled how a fake Astor heir conned billionaire Ricardo Salinas Pliego out of nearly $400 million, spinning lies, faking prestige, and laundering the scheme through a maze of offshore shell companies. Meanwhile, The New Yorker profiled Los Algodones, a Mexican border town transformed into ‘Molar City’, home to the world’s highest concentration of dentists. The piece explores how failures in U.S. health care have fueled Mexico’s medical tourism boom, reshaping local economies and deepening cross-border ties.
Lastly, on this week’s MexMoves, Damian and Eduardo talk with Gerardo Lozoya of Alsea to explore what’s driving the restaurant group’s strong momentum, and how it plans to grow Chipotle in Mexico, now as its local operator. They also break down strong 2Q GDP figures; Live Nation’s $646M additional investment in OCESA; Liverpool’s Nordstrom strategy; ASUR’s U.S. airport pivot, and Nemak’s bet on EV with a big new global acquisition.
Photo of the Week
Los Algodones was built on leaps of faith. A short walk from the United States, it’s a place for the poor, the afflicted, the huddled masses without dental insurance. Photo by Ariel Fisher for The New Yorker.
FOREIGN PRESS COVERAGE
Claudia Sheinbaum Is Having a Bummer Summer
07/28/25, Bloomberg, JP Spinetto
Trump Imposes 35% Tariff on Canada and Grants Mexico a 90-Day Extension
07/31/25, The New York Times, James Wagner, Emiliano Rodríguez Mega and Ian Austen
Canada less ‘constructive’ than Mexico, official says
07/31/25, Financial Times, Aime Williams
Tariffs and judicial chaos shake investor confidence in Mexico: ‘Everything has been put on hold’
07/30/25, The Guardian, Eduardo García, Alfredo Corchado and Alyda Muela
Logistics Giant DSV Hits Pause on U.S.-Mexico Investments
07/31/25, The Wall Street Journal, Paul Berger
Nissan Posts Quarterly Net Loss, Hit by U.S. Tariffs
07/30/25, The Wall Street Journal, Kosaku Narioka
‘Deterrence is boring’: the US troops at sharp end of Trump’s border crackdown
07/25/25, The Guardian, AP
07/27/25, LA Times, Kate Linthicum
Mexico’s ‘austere’ ruling party under fire over top officials’ lavish trips
07/30/25, Financial Times, Christine Murray
Removal of Castro and Guevara Statues Ignites Outcry in Mexico
07/26/25, The New York Times, James Wagner
Why are scientists dressing pigs in clothes and burying them in Mexico?
07/29/25, AP, María Verza
Mexico Economic Growth Beats Estimates, Defying Tariff Risks
07/30/25, Bloomberg, Maya Averbuch
How to Extract $400 Million From a Billionaire: Use a Gilded Age Family Name
07/26/25, The Wall Street Journal, Margot Patrick
Mexico’s Molar City Could Transform My Smile. Did I Want It To?
07/28/25, The New Yorker, Burkhard Bilger
Download PDF: MI-MxForeignPressChatter-080125
